Advisory revenue plunged to $263 million, down from $533
million a year ago.

Fixed income and commodities sales and trading dived to $770
million from $1.9 billion a year ago.

Equity sales and trading fell to $1.1 billion from $1.8
billion.

"Although global economic uncertainty remains a headwind, we are
proactively positioning the Firm for success," said CEO
James
Gorman. "Our businesses showed resilience in key areas
during the quarter, and we made progress against strategic
goals."